Land Bank distributes P7.7M loan to Kapampangan farmers

CITY OF SAN FERNANDO, Pampanga – The Land Bank of the Philippines (LANDBANK), in coordination with the Provincial Government of Pampanga and Department of Agriculture (DA), distributed some P7.7-million cash loan to more than 500 Kapampangan farmers who have been affected by the sudden drop of rice price this year.

Farmers with a hectare or less of agricultural lands from the cities of Mabalacat and Angeles and towns of Candaba, Magalang, and Sta. Rita gathered in Bren Z. Guiao Convention Center today, October 30, to receive their cash cards with P15, 000 each.

Rolando Santos, assistant vice president-head of Pampanga LANDBANK lending center, said that the distribution of cash cards is under the Expanded Survival and Recovery Assistance Program (SURE Aid) wherein provincial lending centers are tasked to provide cash loans until December 31 this year.

“Tumulong sa atin ang provincial government para ipamahagi itong programa sa mga recipients ng iba ibang municipalities dito,” Santos said.

He also emphasized, “Ang SURE Aid… Hindi ito grant, actually. Ito ay isang pautang ng gobyerno.”

According to Santos, the farmers must pay P1, 000 in a semi-annual amortization period, with zero percent interest, from 2020 to 2027.

To receive their cash cards, the farmers signed their application and loan documents and had them verified and notarized. After that, their cash cards were handed to them.

Aside from the initial loan recipients, another batch of farmers from other towns in Pampanga will also receive their cash cards on November 15.

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